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\begin{tabular}{lcc} \hline
 & (1) & (2) \\
VARIABLES & D.l\_mu\_TL\_sFSQ\_t1\_pos\_w\_h & FD\_l\_mu\_TL\_sFSQ\_t1\_pos\_w\_CON \\ \hline
 &  &  \\
D.l\_va\_total & 0.160*** &  \\
 & (0.0396) &  \\
l\_va\_total\_FD &  & 0.375*** \\
 &  & (0.0397) \\
Constant & -0.0339*** & 0.0272** \\
 & (0.00694) & (0.0134) \\
 &  &  \\
Observations & 6,875 & 6,600 \\
R-squared & 0.063 & 0.131 \\
Sector FE & Yes & Yes \\
Year FE & Yes & Yes \\
Cluster & Sector Year & Sector Year \\
 specs & Baseline & Entry-Exit \\ \hline
\multicolumn{3}{c}{ Robust standard errors in parentheses} \\
\multicolumn{3}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
\end{tabular}
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